Susquehanna analyst Biju Perincheril reiterated a Buy rating on Devon Energy Corp (NYSE: DVN) on July 9 and set a price target of $54. The company’s shares closed yesterday at $44.72, close to its 52-week high of $46.54.
According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 18.8% and a 70.7% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Jagged Peak Energy Inc, and Whiting Petroleum Corp.
Currently, the analyst consensus on Devon Energy Corp is a Moderate Buy with an average price target of $50.55, a 13.0% upside from current levels. In a report issued on July 9, RBC Capital also reiterated a Buy rating on the stock with a $53 price target.
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Devon Energy Corp’s market cap is currently $23.5B and has a P/E ratio of 37.27. The company has a Price to Book ratio of 2.64.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is neutral on the stock.
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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil.
